ETH Pectra upgrade to test Solayer announces LAYER token economics
Reprinted from jinse
02/07/2025·3MHeadlines
▌Ethereum ' s Pectra upgrade will begin testing in February, and the upgrade is expected to be launched on the Ethereum main network in April
Ethereum’s “Pectra” upgrade will be available on Holesky and Sepolia testnets in February and March. Pectra will include a range of improvements with a special focus on wallets and validators. If these tests are successful, developers will meet again on March 6 to determine when the upgrade will be officially launched.
Some developers now say it may land on the mainnet in early April. Pectra is a mixed word that represents two separate upgrades, namely Prague and Electra, which contains eight major improvements to the second largest blockchain. The most anticipated of these is EIP-7702, which is designed to improve the user experience of crypto wallets. Another major feature of Pectra, EIP-7251, will allow validators to increase their stakes – from 32 ETH to 2,048 ETH.
▌ Solayer announces LAYER token economics: the maximum supply of 1 billion coins, 51.23% is allocated to communities and ecology
Solana re-staking platform Solayer announced the token economics of its governance token LAYER. The maximum supply of LAYER tokens is 1 billion and the initial circulation is 220 million. The allocation accounts for the following: ①51.23% are allocated to communities and ecosystems: of which 34.23% are used for continuous R&D, developer programs, ecosystem development and other user activities; 14% are used for community activities/incentives (12% are reserved for Genesis Drop, which includes rewarding early adopters and other initial application activities); 3% is allocated through Emerald Card Community Sales. ②17.11% are allocated to core contributors. ③16.66% have been sold to investors. ④15% is allocated to the Solayer Foundation to support product expansion and network development.
Regarding LAYER Genesis Airdrop, the second LAYER allocation is aimed at existing community members who have supported Solayer since they went online in 2024. Solayer reserves 12% of the total supply to Solayer community members, integration partners and liquidity providers, and users who meet the following qualifications: Solayer sSOL and sUSD holders, users who delegate sSOL to AVS partners, in partnership Users who deposit sSOL or sUSD in the DeFi protocol, users who deposit whitelist LST (liquidable staked tokens) on Solayer, users who deposit Solayer through partners and wallet activities, LRT protocol, and other claim plans.
Quotes
As of press time, according to Coingecko data:
BTC's recent transaction price is US$96,741.41, up and down -0.0% intraday;
ETH's latest transaction price is US$2,702.12, with an intraday increase and decrease of -3.3% ;
BNB's recent transaction price is US$573.35, with an intraday increase of +0.2% ;
SOL's recent transaction price is US$190.90, with an intraday increase and decline of -3.4% ;
DOGE's recent transaction price is US$0.2499, with an intraday increase and decrease of -3.0 % ;
XPR's recent transaction price is US$2.33, with an intraday increase and decrease of -2.9 % .
policy
▌US SEC promotes application for XRP, Litecoin, and Solana ETF
The U.S. Securities and Exchange Commission (SEC) updated its applications for multiple cryptocurrency exchange-traded funds (ETFs) on February 6, marking that regulators are gradually advancing the approval process of cryptocurrency ETFs.
Key progress includes: Grayscale's Solana and Litecoin ETF applications have received the SEC's official acknowledgment (recognition). BlackRock submitted a proposal for the iShares Bitcoin ETF allowing physical creation and redemption. Cboe has submitted multiple 19b-4 documents to apply for listing and trading XRP ETFs issued by Bitwise, 21Shares, Canary Capital and WisdomTree.
This move is seen as an important signal for the SEC to gradually accept cryptocurrencies as a mainstream financial asset in the context of the new government's more cryptocurrency-friendly policies. Analysts believe that progress in ETF application for Litecoin, Solana and XRP may pave the way for approval of more cryptocurrency ETFs.
▌ Cboe BZX submits 19b-4 application form for spot XRP ETF to Bitwise and other publishers
Cboe BZX Exchange filed 19b-4 documents on behalf of Bitwise, 21Shares, WisdomTree and Canary Capital to list and trade spot exchange-traded products that track XRP, the fourth largest cryptocurrency by market capitalization.
19b-4 Application is the second part of a two-step process for filing a cryptocurrency ETF application to the SEC. Once approved by the Securities and Exchange Commission, the application will be published in the Federal Register, thereby starting the agency's approval process.
Bitwise filed the registration of the spot XRP ETF for the first time in October, while 21Shares filed the S-1 registration statement for the XRP ETF with the SEC in November.
▌U.S . federal judge severely criticized FDIC 's behavior in Coinbase lawsuit, calling its practice "ridiculous"
According to the latest released hearing record, U.S. federal judge Ana C. Reyes made severe criticism of FDIC's actions in Coinbase's case against Federal Deposit Insurance Corporation (FDIC). Judge Reyes pointed out that the FDIC failed to provide a large number of documents related to Coinbase's previous Freedom of Information Act (FOIA) request and may have destroyed some of the case information.
At the hearing, Judge Reyes asked FDIC lawyer Andrew Dober why he had adopted an "extremely narrow and illogical" explanation of the FOIA request, calling it "almost ridiculous." Dober's lawyer tried to ask the court to suspend the case for three weeks on the grounds of a change of leadership, but the judge refused and asked him to answer questions immediately.
The lawsuit stems from Coinbase's attempt to obtain documents from the FDIC sending "suspend letters" to banks to limit cryptocurrency-related activities. This action is called "Operation Choke Point 2.0" by industry participants.
Blockchain application
▌ CryptoQuant CEO: PoliFi may become a killer application in the crypto industry
CryptoQuant CEO Ki Young Ju posted on X platform, saying, "PoliFi may become a killer application in the crypto industry. A powerful crypto asset can attract capital and talent through fascinating narratives, forming a self-constructed Internet organization. The influence of a narrative Depends on three points: resonance with most people; extreme, provocative themes; and can stir up heated debate. Politics meets these three criteria, it is widely relevant, highly controversial, and naturally has two polarities Characteristics of differentiation. Political parties should issue their own tokens. Members can invest in these tokens to enhance their sense of belonging, while free markets quantify public sentiment. With their natural narrative advantages, these communities will be self-sustaining and highly active . Imagine the Republican and Democrats launching official PoliFi tokens, and ETFs track tokens backed by politicians. Trump Coin may be just the beginning.”
Cryptocurrency
▌ Copper will provide cryptocurrency custody services for Fineqia 's cryptocurrency ETN
Digital asset firm Fineqia AG has partnered with cryptocurrency custodian Copper to provide custody solutions for its exchange-traded notes (ETN) business, a move the company says will increase the reliability and transparency of its products. Under the new agreement, Copper will protect the underlying assets held by Fineqia's ETN, including Fineqia FTSE Cardano Enhanced Yield ETN, which provides direct exposure to Cardano.
As of January 29, the product managed more than $45 million in assets. About 10 months after FineqiaAG was initially approved, CardanoETN began trading on the Vienna Stock Exchange.
Michigan ' s $20 billion state pension fund discloses holding $9 million in Bitcoin ETF
According to Cointelegraph, the Michigan $20 billion state pension fund disclosed holdings of $9 million in Bitcoin ETF.
▌Trump family crypto project WLFI plans to create a "strategic reserve" with purchased tokens
Chase Herro, co-founder of World Liberty Financial, the DeFi project of U.S. President Trump, said the platform plans to create a "strategic reserve" with purchased tokens. Herro did not specify what World Liberty’s goal is to hold the token reserve. This topic has attracted much attention since Trump pledged to establish a token reserve during his campaign last year. Last month, he signed an executive order requiring an assessment of the feasibility of creating a digital asset reserve. Donald Trump Jr. made a appearance at the Ondo Summit at the Lincoln Center Jazz Hall on Thursday, the president's latest move to showcase support for the digital asset industry.
Although World Liberty is advertised as a DeFi lending platform, it has not yet begun operations. So far, the project is known for buying niche tokens.
▌Bloomberg analyst: Still firmly believe that Litecoin will be the next SEC-approved spot ETF product
Bloomberg analyst James Seyffart posted on X platform that he still adheres to his previous view that Litecoin will be the next SEC-approved spot ETF product. Earlier in the day, the SEC had begun accepting the 19b-4 application form of Grayscale Litecoin Trust.
▌Encryption company Gemini is considering IPO this year
Gemini, a cryptocurrency company backed by billionaire Winklevoss brothers, is considering an IPO this year, people familiar with the matter said. Sources said that the company and hosting firm are currently discussing the possibility of a listing with potential consultants and no final decision has been made yet, as the information has not been made.
According to the company's website, Gemini currently has more than 500 employees in New York, Seattle, Singapore, London, Dublin and Gurgaon, India.
Important economic trends
▌U.S . bond market responds coldly to U.S. Treasury Secretary 's 10-year yield commitment
Treasury Secretary Becent Bescent on Thursday's pledge to control the 10-year Treasury yield was met with some doubt in the bond market as inflationary pressures and expectations of a widening federal deficit could overshadow efforts to curb borrowing costs. "While Trump wants to lower interest rates, he will not ask the Fed to cut interest rates," Becent said in an interview yesterday. "President Trump and I are both focused on 10-year U.S. Treasury yields." But bond investment Those and analysts still don’t believe Becente’s remarks as Trump’s trade and fiscal policy is expected to push up long-term Treasury yields despite falling energy prices and government cuts spending. "The bigger problem in comprehensive inflation is the service industry inflation, and the inflation stickiness that has been widespread in the past few months," said Padhraic Garvey, head of research at the American region at Dutch International. “The tariff agenda will only put upward pressure on prices and, in fact, may be more influential than the energy price control plan,” he added.
▌Federal Logan: 2% inflation is not a necessary condition for FOMC rate cuts
Fed Logan said the choice in 2025 can be attributed to the return to rate cuts “as soon as possible” or the interest rate remain unchanged “for quite a while.” If the U.S. job market deteriorates, the Federal Reserve may cut interest rates. The labor market remains strong, which may mean that policy interest rates are close to neutral levels. A 2% inflation is not a necessary condition for FOMC rate cuts. Major central banks must anchor inflation expectations. Changes in trade policy may continue to affect the economy.
Golden Encyclopedia
▌What is chain abstraction?
Chain abstraction in blockchain works by providing a single interface that enables users and developers to interact with multiple blockchains without managing the complexity of each individual chain. Chain abstraction solutions are still under development and many companies are working to solve the problem. At the moment, how this all works is not an exact science, but a multi-chain solution may allow users to seamlessly use Web3 from one account.
Disclaimer: As a blockchain information platform, the content of the articles published by Golden Finance is for information reference only and is not used as actual investment advice. Please establish the correct investment philosophy and be sure to improve your risk awareness.
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